This invention relates to a free delivery, controlled return valve employed in a fluid power hoist system to control the velocity at which a load supporting platform is lowered by the system as a function of the magnitude of the load. More particularly, this invention relates to an improved valve which overcomes a false signal indicating the presence of a load on the platform when there is none. Additionally, this invention relates to a fluid control valve which minimizes the generation of noise in the associated fluid circuitry.